PAYG Instalments: The Company made the following payments of income tax to the ATO:
· 1 October 2016 – $120,000
· 1 January 2017 – $120,000
· 1 April 2017 – $140,000
· 30 June 2017 – $120,000
Please calculate the tax payable for the company. You are required to provide a brief explanation of each item and why it is included or excluded.
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